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    300274   CNE1000018M7

SUNGROW POWER SUPPLY CO., LTD.

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Sungrow Power Supply Co., Ltd. Signs 50 MW Distribution Contract At Solar Pakistan 2021

09/07/2021 | 11:29pm EDT

Sungrow Power Supply Co., Ltd. showcased the latest PV and energy storage product solutions at Solar Pakistan 2021 and signed a 50 MW distribution contract onsite, furthering its commitment to renewable energy and fueling the national transition to a low carbon economy. The 50 MW agreement was forged between Sungrow and the reputed local distributor Energy For You to supply featured residential and commercial inverter solutions to power Pakistani installations within a year. The Solar Pakistan expo, which was canceled in 2020 due to the pandemic, attracted a large audience this year. Sungrow's brand-new residential energy storage system made local industry headlines and is expected to be available in Pakistan in January, 2022. Tailored to the growing amount of residential rooftop installations in Pakistan, this newly introduced turnkey solution comprised of a three-phase hybrid inverter and a high-voltage battery is adaptable for various scenarios both in increasing the uptake of solar and slashing electricity bills for end-users. Due to its modular design, the system featuring an extensive flexible capacity and the broad power range enables flexible configurations for different rooftops. Most notably, because all of the information is integrated into one app, iSolarCloud, users can click to initialize both the inverter and battery, automatically commissioning and managing the plant yield in a timely manner. Apart from the residential portfolio, one of Sungrow's most popular string inverters, the SG110CX was also on display with data logger COM100E. The 110 kW commercial inverter is equipped with multiple MPPTs and enables optimal yields in complex terrains. They're also resilient to harsh conditions armed with an IP66 and C5 corrosion class protection. As Pakistan is expected to be a vibrant solar market, Sungrow is boosting efforts to prop up local decarbonization ambitions and surging demands. Sungrow's Pakistani presence proves its alliance with customers.


© S&P Capital IQ 2021
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Financials
Sales 2022 37 196 M 5 590 M 5 590 M
Net income 2022 3 287 M 494 M 494 M
Net cash 2022 7 523 M 1 131 M 1 131 M
P/E ratio 2022 35,8x
Yield 2022 0,28%
Capitalization 118 B 17 677 M 17 677 M
EV / Sales 2022 2,96x
EV / Sales 2023 2,27x
Nbr of Employees 6 726
Free-Float 18,8%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 79,19 CNY
Average target price 123,94 CNY
Spread / Average Target 56,5%
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Managers and Directors
Ren Xian Cao Chairman, President & General Manager
Guo Jun Li Chief Financial & Accounting Officer
Gao Zhou Tao Chairman-Supervisory Board
Bao Shan Li Independent Director
Ming Fa Li Independent Director